That seems to be a common misconception present in this thread.

FPGAs aren't powerful. They're actually quite inefficient and slow  Read ArtForz's posts for a good breakdown and debunking.

Someone with free access to a huge stack of FPGAs isn't any better off than someone who has free access to a huge array of GPUs, as far as hashing power is concerned.

As for an ASIC, I highly doubt anyone is foolish enough to drop >$1,000,000 of their own cash to have developed one. Also, it takes a long time from start to finish. Bitcoins weren't all that popular a year ago. They still aren't (outside of our little bubble).

Suppose someone was foolish enough to do so. Well, sucks for them. Good luck getting $1,000,000 out of the Bitcoin market right now. The only feasible profit would be from selling them and spreading the risk to the customers.

I post occasional updates on my progress with FPGA mining in this thread. If I succeed in making FPGA mining feasible, I fully intend to release a product.

I also still have on my TODO list the release of an FPGA Mining Reference Design, open-source.

I hope this helps clear out the mis-information and fear. As always, I am happy to answer questions about my project, FPGA mining, and FPGAs in general. It's an exciting topic for me and I hope my knowledge can be of some use to the community.